Market Update (NYSE:EQR): Equity Residential Declares Second Quarter Dividends

[Business Wire] – Equity Residential today announced that its Board of Trustees declared dividends on the company’s common and preferred shares. A common share dividend for the second quarter of $0.50375 per share will be paid on July 8, 2016 to shareholders of record on June 27, 2016. Read more on this. Equity Residential (EQR) , valued at $24.21B, started trading this morning at $65.37. Today’s price range has been between $65.12 and $66.43 per share with a trailing 52-week range being $61.90 to $82.39. EQR shares are currently priced at 21.21x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 21.64x earnings multiple. And for dividend hunters, the company pays shareholders $2.02 per share annually in dividends, yielding 3.13%. According to a consensus of 24 analysts, the earnings estimate of $0.78 per share would be $0.07 worse than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.09 would be a $0.37 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $609.82 Million. If reported, that would be a 9.86% decrease over the year-ago quarter. Recently, Jefferies downgraded EQR from Buy to Hold (Jun 8, 2016). Previously, SunTrust upgraded EQR from Neutral to Buy. Investors should keep in mind is that the average price target is $74.25, which is 13.58% above where the stock opened this morning. See more in (NYSE:EQR) Similar Articles: Stock Update: Equity Residential (NYSE:EQR) – Equity Residential to Participate in NAREIT REIT Week 2016 Conference Market Update (NYSE:EQR): Equity Residential Declares Regular First Quarter Dividends Company Update: Equity Residential (NYSE:EQR) – Equity Residential Declares Fourth Quarter Dividends